The Financial Conduct Authority has given regulatory approval to the ACCESS LGPS pool’s authorised contractual scheme and its first sub-fund.
The pool will now progress with the launch of its first global equity sub-fund, pencilled in for October.
The fund is expected to attract £1.6bn from three of the member funds, resulting in savings of £1.5m per year, according to a statement from the fund. More sub-funds are planned for launch in early 2019.
The pool’s ACS will be run on its behalf by Link Fund Solutions, which was appointed as operator in March.
